crossing over to new york, the picture is quite different. a lot of pessimism there. the euro gaining some ground against the dollar. it is not the only source of uncertainty in the world economy. >> a leading economic think tank says confidence is down in many german sectors compared to this time last year. the big picture does not actually looks so bad. >> the economy may have studied this year, but on the whole, 2012 was a good year for german industry -- certainly better than in many other countries. still, the business climate is cautious. in half of the sectors, confidence slid compared to next year. that is the result of a survey of 46 industry associations by the iw economic institute in cologne. >> sentiment was down in the second half of the year after the worries about the future of the bureau, which would have had a drastic effect, and the memories of the sharp decline in 2009 have made people a bit cautious. >> the study concludes that the picture painted by business sentiment is bleaker than the actual economic situation. most sectors expect next year to